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Algarve real estate company does strong business on Brexit day

Ideal Homes, a real estate company based in the central Algarve, has told The Portugal News that it has clinched a major deal through a British buyer within hours of Britain voting to leave the EU.

Chris White, the owner of Ideal Homes, told The Portugal News on Friday afternoon revealed that a property worth €500,000 was sold to a British family shortly after results came out to show the Leave campaign had won the referendum.

He added that seven other potential buyers from the UK had made appointments on Friday for viewings of property in the Algarve, while another British buyer had also secured a mortgage to purchase a home.

“Too be honest, I was worried about the referendum results, but the business we did today clearly shows that there is still huge interest in property in the Algarve”, Chris White explained.

Questioned over the negative effects the weaker pound could have on sales, he said that he did business when the currency was much lower against the euro, and believed that the pound would stabilise in the coming days.

Chris White’s comments after at least two real estate agencies in the Algarve learned on Friday that a viewing and an offer to purchase by British nationals had reportedly been cancelled as a result of the Brexit vote results.

* The Portugal News would like to hear from any company that defied the odds on Brexit day to conduct great business. Contact: newsdesk@theportugalnews.com